Landlord and tenant loan schemes extended
The government has announced that the Tenant Hardship Loan Fund and the Private Rent Sector Landlord (non-business) COVID-19 Loan Scheme, both of which offer interest-free loans, will continue to receive applications beyond the original deadline of 31 March 2021.
The landlord loan scheme offers landlords up to 100% of lost rental income for up to three properties. Is available to landlords who are not classified as businesses, have five or fewer properties to rent and have lost rental income due to tenants being unable to pay rent as a result of the COVID-19 pandemic.
The tenant loan offers tenants up to a maximum of nine months’ rent costs covering rent arrears and future rent, where those arrears have arisen since 1 January 2020 (the loan is not available where a tenant had rent arrears before this date). The loan can include up to a maximum of three months of future rent payments as part of the nine-month total.
Applications for the Tenant Hardship Loan Fund and the Private Rent Sector Landlord (non-business) COVID-19 Loan Scheme can be completed online.